Generic competition is already hurting Pfizer’s global profits, with results for the fourth quarter of 2011 showing a 24 per cent decline in revenue from Lipitor alone.
The results, released yesterday, revealed patent expiries for Lipitor (atorvastatin) and Effexor (venlafaxine) – both drugs’ Australian patents expire this year - had resulted in global revenue declines of 11 per cent and 61 per cent respectively, in 2011.
Profits from the company’s primary care unit were “negatively impacted by the loss of exclusivity of Lipitor and Caduet (amlodipine besylate) in the US in November 2011, Lipitor in various other developed markets during 2010, as well as Aricept (donepexil hydrochloride)in the US”, a US Pfizer spokesperson said.
Overall, Pfizer made a US$16.75 billion profit in...
This site is intended for Registered Medical Practitioners.
To make the most of Pharmacy News, you need to be logged in.